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This document provides an overview of how auto accounting works in projects. It discusses key concepts like auto accounting rules, functions, and transactions. It also outlines the implementation process including planning, setup, testing and troubleshooting. The implementation depends on projects application setup and accounting requirements should be determined before starting projects setup. Auto accounting rules define valid accounting flexfield segment values and are assigned to transactions within functions to determine which general ledger accounts are impacted.
This document provides an overview of how auto accounting works in projects. It discusses key concepts like auto accounting rules, functions, and transactions. It also outlines the implementation process including planning, setup, testing and troubleshooting. The implementation depends on projects application setup and accounting requirements should be determined before starting projects setup. Auto accounting rules define valid accounting flexfield segment values and are assigned to transactions within functions to determine which general ledger accounts are impacted.
This document provides an overview of how auto accounting works in projects. It discusses key concepts like auto accounting rules, functions, and transactions. It also outlines the implementation process including planning, setup, testing and troubleshooting. The implementation depends on projects application setup and accounting requirements should be determined before starting projects setup. Auto accounting rules define valid accounting flexfield segment values and are assigned to transactions within functions to determine which general ledger accounts are impacted.
How Does AutoAccounting Work? Accounting Concepts and Terms Implementation Planning Setup Steps Troubleshooting Q & A Overview Projects: AutoAccounting Part of Project Accounting Implementation Setup One of the last setup steps in Projects AutoAccounting implementation depends on the Projects application setup, hence accounting requirements should be determined before starting the Projects setup
Determines General Ledger Accounts How Does It Work? Project Accounting Processes When processes are run in Projects, the defined rules determine which valid account combinations are debited and credited. AutoAccounting Rules and Rules Assignment Users define and assign rules Accounting Flexfield Structure Account combination is based on values setup in the accounting flexfield structure AutoAccounting Concepts and Terms
AutoAccounting Rules AutoAccounting Parameters AutoAccounting Functions AutoAccounting Transactions AutoAccounting Assignments AutoAccounting Rules Setup>AutoAccounting>Rules By setting up the rules in Project Accounting, we define valid value for each accounting flexfield segment
Assigning AutoAccounting Rules Setup>AutoAccounting>Assign Rules For each accounting transaction within the accounting function, the defined accounting rule is assigned
AutoAccounting Functions Function names are predefined types of transactions
AutoAccounting Function Transactions A Function can have more than one accounting transaction, affecting different General Ledger account
Example of Function Transactions Contract, All Contract, Private, Billable Contract, Private, Non-Bill. Contract, Public, Billable Contract, Public, Non-Bill. Indirect, All Indirect, Private Which Process Invokes Which Accounting Function? Example: PRC: Distribute Labor Costs Calculates the cost based on the employee labor cost rate, and then uses Labor Cost Accounting to debit the appropriate account, based on enabled function transaction rule assignment. PRC: Interface Labor Costs to General Ledger Uses Labor Cost Clearing Accounting to credit the labor account and offset the debit side entry.
AutoAccounting Setup for Labor Costs Function Labor Cost Account AutoAccounting Implementation Planning
Test Environment Setup and Testing
Production Implementation
Controlled Roll Out AutoAccounting Implementation Planning
AutoAccounting implementation depends on the Project Accounting application setup, and accounting requirements should be determined before starting the Project Accounting setup Determine type of accounting transactions taking place in Projects Gather and document requirements
High Level Requirements In absence of Projects, what determines which GL account is impacted? Example, where are the costs charged? Which accounts are valid revenue accounts? Which GL departments (Organizations in PA) are enabled to have revenue and cost of sales? Are our revenue accounts based on type of business sold?
Gathering and Documenting Requirements Documenting the Projects business requirements and accounting impact of the business requirements The AutoAccounting rule setup requirement is to have a rule for each accounting flexfield segment The rule can be defined as constant, lookup set, or SQL select statement The simplest way to start is to create spreadsheet with two columns: Business Requirement and Accounting Requirements Requirements Example Ability to enter billable labor DR WIP Account & CR Labor Transfer Employee Ability to enter non billable labor Entry needs to debit and credit same account since labor is non-billable should have no P&L impact Revenue / COS Each task has a service type: Accounting depends on service type assigned to a task Constant Simplest Intermediate Value Lookup Set Flexible Based on a Parameter
SQL Statements
Minimize Maintenance Descriptive Flexfield (DFF) LOV Contains Values Setup in General Ledger Provides Flexibility Incorrect Select Statements Will Cause Performance Implications Intermediate Value SQL Statement Based on values in DFF on Organizations AutoAccounting Setup Sets